Gerald Inc. of Session opens a sales agency in Julia and a working fund of ₱100,000 is established on imprest basis. The first payment from the fund is ₱5,000 for rent of the store space. What is the entry in the books of the home office to record the payment of rent by the agency?

Gerald Inc. of Session opens a sales agency in Julia and a working fund of ₱100,000 is established on imprest basis. The first payment from the fund is ₱5,000 for rent of the store space. What is the entry in the books of the home office to record the payment of rent by the agency?

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 7SEA: CASH SHORT AND OVER ENTRIES Based on the following information, prepare the weekly entries for cash...

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Hw.48.
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